ECB to keep rates unchanged
Later today, the European Central Bank will announce its interest rates decision.
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Later today, the European Central Bank will announce its interest rates decision. No big changes are expected as the deposit facility rate is expected to remain at -0.50%. French July industrial production will also be expected at +5.0% on month.
From a technical point of view, on a daily chart, EUR/USD remains on the upside and is supported by its rising 50-period moving average (in blue). Readers may therefore consider the potential for further rise above horizontal support at 1.1700. The nearest threshold would be set at September top at 1.2015 and a second one would be set at horizontal resistance and overlap at 1.2150.
Source: TradingView, GAIN Capital
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